New York Jets Reportedly Seek Sports Betting Partner in New Jersey

The New York Jets are reportedly holding talks with some of New Jersey’s operational sportsbooks in a bid to find an official gambling sponsor for the 2018 NFL season, the New York Post reports citing unnamed sources.

Reports emerged shortly after a committee of NFL owners cleared the way for sponsorship agreements between teams and gambling venues that operate sportsbooks. It was also announced last week that the Dallas Cowboys have struck such an agreement with WinStar World Casino & Resort to become the first NFL franchise to join forces with a casino and sportsbook.

According to New York Post sources, a deal between the Jets and a New Jersey sportsbook could be worth between $750,000 and $1 million for the season’s span. The team has declined to comment on the betting sponsorship reports. The Jets are set to kick off their 2018 season action on Monday against the Detroit Lions.

It is to be seen whether a partnership will be announced ahead of tomorrow’s game. It has been nearly four months since the US Supreme Court struck down the federal ban on wagering on professional and amateur sports leagues, allowing individual states to legalize sports betting if they feel inclined to do so.

New Jersey became the second state to launch legal sports betting following the SCOTUS ruling. Currently, six of Atlantic City’s nine operational casinos are offering betting services at brick-and-mortar facilities and some of them have gone live with mobile wagering apps. Two of New Jersey’s racetracks are, too, offering in-person sports betting and one of them – Meadowlands Racetrack, is also offering mobile/Internet betting in partnership with daily fantasy sports-turned betting operator FanDuel.

Meadowlands Racetrack is actually part of the Meadowlands Sports Complex in East Rutherford, New Jersey, which also includes the MetLife Stadium, the home stadium for both the New York Jets and the New York Giants. While it is yet to be seen whether the Jets will indeed strike sponsorship with a New Jersey sportsbook, it seems that chances for this sportsbook to be the one at Meadowlands seem to be quite big.

First Months of Legal Sports Betting in New Jersey

According to information from the New Jersey Division of Gaming Enforcement, the state’s sportsbooks raked in $7.3 million in betting revenue in the period between June 14 (when its first betting facilities went live) and July 31, and processed $57.1 million in sports betting handle over the same period. August figures will be released next week and are expected to be significantly higher as new players joined the state’s legal sports betting scene and mobile betting apps were officially rolled out at multiple properties.

The amount of total wagers placed at New Jersey’s sportsbooks is expected to increase significantly in September as the NFL season is in full swing and the number of legal bookmakers in the state is growing. According to an unnamed New York Post source, the amount of $500 million could be processed in betting handle in September.

A recent report by gaming analysis firm Eilers & Krejcik projects that New Jersey could surpass Nevada in sports betting revenue by 2021, raking in more than $3.4 billion in revenue from sports betting services by that year.

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